Learjet?
Seems the answer to the price is likely due to engines nearly due for overhaul. my guess is everything else is obsolete as well... nav equipment etc. chances are they'll scrap that plane for parts....
Maybe it's just me, but a discount plane is the last thing I want to buy (and likely would be if I bought it).
I would take the Ferrari. I wouldn't want to have to fuel that plane up all the time and then pay for maitenance FOR A PLANE.
I imagine updating the cockpit alone will eat another $150k then I am guessing $300k for 2 new engines forget that, you can buy several nice Ferraris for $600k plus w less worries about dying